Huron Corporation generated total sales of $10,000,000 during the year with 80% representing credit sales. Huron assumes that 2% of its credit sales are potentially uncollectible. As of year-end, Huron prepared the aging of its accounts receivable with the corresponding probability of collection as shown below. Days outstanding Amount Probability of collection Less than 16 $450,000 99% 16 to 30 150,000 94% 31 to 45 75,000 80% 46 to 60 45,000 65% 61 to 75 15,000 50%

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